Autumn Statement 2015: George Osborne just compared the tampon tax to Libor banking fines as £15m raised will go to women’s charities
George Osborne has announced a new plan in the Autumn Statement, which probably sounded good on paper, but has not quite hit the mark as expected when announced out loud.
The five per cent tax levied on tampons remains (despite many a campaign to abolish it), deferring a decision on it to Europe, but the chancellor revealed the money raised (£15m) would be spent on supporting women's charities. So far so good.
He then went on to say it was like the way fines paid by banks over the Libor scandal were handed to charities. Oh dear.
wait – what? whilst redirecting tax gd, this whole tampon/libor analogy is super weird #spendingreview #suggestswomenarefinedformenstruating
— katherinehudson (@katherinehudson) November 25, 2015
"Similar to how we use Libor fines"?
So buying tampons represents a fine? https://t.co/tGiA0SniD7
— Katie Martin (@katie_martin_fx) November 25, 2015
'It's similar to the way we use Libor fines', Osborne says of plans to use 'tampon tax', making it seem more like a penalty
— Hilary Osborne (@hilaryosborne) November 25, 2015
Comparing #tampontax to #libor implies we have control over our biology
— Fawcett North London (@NL_Fawcett) November 25, 2015
Osborne says giving money from tampon tax to women's charities is similar to use of Libor fines. Quite different causes though!
— Isabel Hardman (@IsabelHardman) November 25, 2015
Why women to be taxed for a natural & unavoidable reproductive function? Sweetening the tax by funding charities not good enuf. #tampontax
— Ann Pettifor (@AnnPettifor) November 25, 2015
Maybe prostate cancer treatment should be funded entirely via a tax on Jeremy Clarkson books? Seems fair #tampontax
— Gráinne Maguire (@GrainneMaguire) November 25, 2015
Get all the latest on the announcements, as they happen, here.